### EXHIBIT 10.13.2 - Aviation Insurance - JLT (2010) (Un-Redacted - 2/12)

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LETTERHEAD:  JLT

BINDER

This will serve to confirm that XL Specialty Insurance Company per XL Aerospace is binding
their 100% quota share, Policy Number  UA00004495AV09A, of the following coverage at the
terms, conditions, limitations, exclusions, rates and premiums set forth below:

TYPE:	AVIATION HULL DEDUCTIBLE INSURANCE.

INSURED:	Baltia Air Lines, Inc.

ADDRESS:	63-25 Saunders Street, Suite 71, Rego Park, NY 11374

PERIOD:	December 17, 2010 to December 17, 2011 on both dates at 12:01 A.M. local
standard time at the address of the Named Insured.

INTEREST:	Whereas the Insured has in force Hull All Risk Policy covering aircraft owned
and/or operated by

the Insured and such Policy includes the provision for Deductibles excluding all forms of Total
Loss.

SUM INSURED:	Now this Policy will indemnify the Insured as follows:

To pay:    USD 900,000 each and every loss

			Excess of :  USD 100,000 each and every loss

			Subject to one deductible any one occurrence

			Subject to an overall policy aggregate of USD 1,500,000

SITUATION: 		Worldwide

CONDITIONS:

Noise and Pollution and Other Perils Exclusion Clause AVN 46B in respect of Liabilities only
(but not applicable to passengers, crew,  baggage, cargo or mail and paragraph  I (b) not
applicable to pollution or contamination of a product or products sold or supplied by the Insured)
and/or as per lead policy

Nuclear Risks Exclusion Clause: AVN 38B and/or as per lead policy

Additional Insureds, Loss Payables, Breach of Warranty, Waiver of Subrogation, Hold Harmless
Agreements, Contractual Agreements, Cross Liability clauses as expiring and as may hereinafter
be required and/or as per lead policy

JLT Aerospace (North America) Inc. is authorized to issue Certificates of Insurance on behalf of

Underwriters. Special Provision; incorporated into the policy as if endorsed thereon.

War, Hi-jacking and Other Perils Exclusion Clause (Aviation) AVN48B and/or as per lead policy

60 days notice of cancellation or non-renewal (10 days notice for non-payment of premium)

"Disappearance" to mean missing and not reported for five (5) days after the commencement of a

flight

Contract (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72

Date Recognition Exclusion Clause AVN 2000A with Date Recognition Limited Coverage
Clauses  AVN 2001A and AVN 2002A and/or as per lead policy

Asbestos Exclusion Clause 2488 AGM00003

All other Terms, Conditions, Limitations, Exclusions and Cancellation Clauses where applicable
to follow Hull All Risks Policy

PREMIUM:

The deposit premium for the period will be USD 61,200 and will be payable in two (2) semi-annual
installments of USD 30,600 each payable on December 17, 2010 and June 17, 2011.

SCHEDULE   OF AIRCRAFT:

|AIRCRAFT TYPE   | SERIAL NO | REG NO. | PROJECTED ADDITION DATE | PROJECTED DELETION DATE | DAYS ON RISK | PRORATA FACTOR
|--------------- | --------- | ------- | ----------------------- | ----------------------- | ------------ | --------------
|Boeing 747-200  | 21035     | N705BL  | 17-Dec-2010             | 17-Dec-2011             | 365          | 1.000         
|Boeing 747-251B | 21705     | N623US  | 17-Dec-2010             | 17-Dec-2011             | 365          | 1.000         

DUTY OF DISCLOSURE

To the best of your knowledge, you have provided complete and  accurate information which
would influence the judgment of an underwriter in determining whether or not to underwrite the
risk and, if so, upon what terms and at what premium.     If all such information has not been
disclosed, insurers may have a right to void the policy which will lead to claims not being paid.
If you believe that you have not complied with this duty please contact us  immediately.

The duty of disclosure and the consequences of its breach may vary to a limited degree from the
foregoing dependant upon applicable law.

/signed/

Signed:  JLT Aerospace (North America) Inc.            Date:     December 17, 2009

/signed/

Signed:  Baltia Air Lines, Inc.                                     Date:  January 6, 2011

LETTERHEAD:
   JLT

JLT Aerospace (North America) Inc.
2300 Dulles Station Blvd., Suite 230
Herndon, VA 20171
Main: 703459-2380
Facsimile: 703 459-2381

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CERTIFICATE OF INSURANCE BA-10-003

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|This is to certify to: | JFK International Air Terminal, LLC
Terminal 4, Room 161.022
JFK International Airport
Jamaica, New York 11430 | 
|---------------------- | -------------------------------------------------------------------------------------------------------------- | 
|That:                  | Baltia Air Lines, Inc.
Terminal 4, Room 263.047
John F. Kennedy International Airport
Jamaica, NY 11430        | 

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|**COMPREHENSIVE AIRLINE LIABILITY INSURANCE**

Including, but not limited to: Comprehensive General Liability, Bodily Injury and Property Damage to Third Parties,
Personal Injury Liability, Contractual Liability, Premises, Products, Ground Hangarkeepers and Completed
Operations Liabilities; subject to an annual aggregate of $25,000,000 as respe cts Personal Injury Liability. | **Combined Single Limit**
Each Occurrence*
$250,000,000
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------

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Subject always to the scope of the attached policies and all the policies' declarations, insuring agreements, terms, conditions, limitations, exclusions,
deductibles, warranties and endorsements thereof remaining paramount: Solely as respects: (i) The Coverage(s) noted above; (ii) the Contract(s)
(and then only to the extent of the Named Insured's obligation to provide insurance under the terms of the Contract(s)); and (iii) the operations of the
Named Insured; the policies are endorsed to include the following provisions):

JFK International Air Terminal, LLC, Schiphol USA LLC, Schiphol USA Inc., LCOR Inc., LCOR JFK Airport LLC, Lehman JFK LLC, Lehman JFK LLC,
Lehman JFK Inc., the Trustee, the Port Authority and the City of New Yc k are included as Additional Insureds ("the Additional Insureds") as their
respective rights and interests may appear, warranted no operational interest; however, no party shall be included as an Additional Insured as respects
its legal liability as manufacturer, repairer or servicing agent of the Aircraft and/or Engines.

Such insurance as is afforded the Additional Insureds shall not be invalldat: d and shall protect their interests regardless of any action or inaction of
Lessee or any other Insured (other than any action or inaction of an Insured as the case may be, and then only as against such particular Insured)
whether or not such action or inaction is a breach or violation of any warranties, declarations or conditions of the policies, but in no event shall this
clause apply in the event of exhaustion of policy limits, nor to losses, claims, Expenses, etc., excluded from coverage under the policies.

In the event of cancellation or material changes of the policies by insurers which would adversely affect the interests of the Additional Insureds, Insurers
agree to provide 30 days (ten (10) days in the event of cancellation for non-payment of premiums) prior written notice to the Certificate Holder(s).

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|/signed/                  | ___ | October 29, 2010
|------------------------- | --- | ----------------
|Authorized Representative | ___ | Date            

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LETTERHEAD:
   JLT

JLT Aerospace (North America) Inc.
2300 Dulles Station Blvd., Suite 230
Herndon, VA 20171
Main: 703459-2380
Facsimile: 703 459-2381



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SECURITY SHEET

POLICY TERM: October 30, 2010 to October 30, 2011, on both dates at 1:01A.M. Local Standard Time at the address of the Named Insured.

|INSURER                                                                                                                                                                                               | POLICY NUMBER                       
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------
|Allianz Global Risks US Insurance Company
Per Allianz Aviation Managers, LLC                                                                                                                          | A1AL00043301 OAM                    
|XL Specialty Insurance Company
Per X Aerospace                                                                                                                                                        | UA00004496AV10A                     
|Catlin Syndicate 2003 at Lloyd's
Catlin France SAS.                                                                                                                                                   | HA 1000272 382 H2 1 HA 4000272381 L2
|Lloyd's of London Syndicate CVS1919
lronshore Specialty Insurance Company
Per Starr Aviation Agency, Inc.                                                                                             | 10AL100032
IHM100109-01             
|StarNetlnsurance Company
Per Berkley Aviation, LLC                                                                                                                                                    | BA-1 0-10-00152                     
|National Union Fire Insurance
Company of Pittsburgh, PA
Per Chartis Aerospace                                                                                                                         | HL 1859938-03                       
|Underwriters at Lloyds of London,
British Insurance Companies and Others
Per JLT Reinsurance Brokers Limited                                                                                          | J51004002                           
|Mitsui Sumitomo Insurance Company of America
Tokio Marine & Nichido Fire Insurance Co. Ltd (USB)
Great Lakes Reinsurance (UK) pic
National Fire & Marine Insurance Company
Per Global Aerospace, Inc. | 337901/10A
337901/10S               
|Member Companies
Per La Reunion Aerienne
2010/60086
Torus Insurance (Europe) AG
Per Isosceles Insurance Ltd.                                                                                          | BAL-01-001-10                       

**SEVERAL LIABILITY  NOTICE**



The subscribing insurers' obligations under contracts of insurance to which they subscribe are
several and not joint and are limited solely to the extent of their individual subscriptions.  The
subscribing insurers are not responsible for the subscription of any co-subscribing insurer who
for any reason does not satisfy all or part of its obligations.

LSW 1001 (Insurance)

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LETTERHEAD:
   JLT

JLT Aerospace (North America) Inc.
2300 Dulles Station Blvd., Suite 230
Herndon, VA 20171
Main: 703459-2380
Facsimile: 703 459-2381



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|**This is to certify to:** | To Whom It May Concern                                                                                  | 
|-------------------------- | ------------------------------------------------------------------------------------------------------- | 
|**That:**                  | Baltia Air Lines, Inc.
Terminal 4, Room 263.047
John F. Kennedy International Airport
Jamaica, NY 11430 | 

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|**ALL RISKS (GROUND AND FLIGHT) AIRCRAFT HULL INSURANCE**
Including All Risks (including transit) Aircraft Spare Parts Insurance

The Hull coverage is subject to a Deductible
(not applicable to Total or Constructive Total Loss/Arranged Total Loss.
Occurrence aggregate deductible equal to highest applicable deductible.)                                                         | **Hull Limit**
$5,000,000
Each and Every Loss
$1,000,000
**Spares Limit**
$1,000,000 each occurence
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------
|**COMPREHENSIVE AIRLINE LIABILITY INSURANCE**

Including, but not limited to: Comprehensive General Liability, Bodily Injury and Property Damage to Third Parties,
Personal Injury Liability, Contractual Liability, Premises, Products, Ground Hangarkeepers and Completed
Operations Liabilities; subject to an annual aggregate of $25,000,000 as respects Personal Injury Liability. | **Combined Single Limit**
Each Occurrence*
$500,000,000                                            

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This Certificate of Insurance is issued as summary of the insurance under the policies noted above and confers no rights upon the
Certificate Holders as regards the insurances other than those provided by the policies.
The undersigned has been authorized by the above
insurers to issue this certificate
on their behalf and is not an insurer and has no liability of any sort neither under
the above policies nor as a
result of this certification.

|/signed/                  | ___ | October 29, 2010
|------------------------- | --- | ----------------
|Authorized Representative | ___ | Date            

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LETTERHEAD:
   JLT

JLT Aerospace (North America) Inc.
2300 Dulles Station Blvd., Suite 230
Herndon, VA 20171
Main: 703459-2380
Facsimile: 703 459-2381

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CERTIFICATE OF INSURANCE BA-10-000

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SECURITY SHEET

POLICY TERM: October 30, 2010 to October 30, 2011, on both dates at 1:01A.M. Local Standard Time at the address of the Named Insured.

|INSURER                                                                                                                                                                                               | POLICY NUMBER                       
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------
|Allianz Global Risks US Insurance Company
Per Allianz Aviation Managers, LLC                                                                                                                          | A1AL00043301 OAM                    
|XL Specialty Insurance Company

Per X Aerospace                                                                                                                                                       | UA00004496AV10A                     
|Catlin Syndicate 2003 at Lloyd's
Catlin France SAS.                                                                                                                                                   | HA 1000272 382 H2 1 HA 4000272381 L2
|Lloyd's of London Syndicate CVS1919
lronshore Specialty Insurance Company
Per Starr Aviation Agency, Inc.                                                                                             | 10AL100032
IHM100109-01             
|StarNetlnsurance Company
Per Berkley Aviation, LLC                                                                                                                                                    | BA-1 0-10-00152                     
|National Union Fire Insurance 
Company of Pittsburgh, PA
Per Chartis Aerospace                                                                                                                        | HL 1859938-03                       
|Underwriters at Lloyds of London,
British Insurance Companies and Others
Per JLT Reinsurance Brokers Limited                                                                                          | J51004002                           
|Mitsui Sumitomo Insurance Company of America
Tokio Marine & Nichido Fire Insurance Co. Ltd (USB)
Great Lakes Reinsurance (UK) pic
National Fire & Marine Insurance Company
Per Global Aerospace, Inc. | 337901/10A
337901/10S               
|Member Companies
Per La Reunion Aerienne
2010/60086
Torus Insurance (Europe) AG
Per Isosceles Insurance Ltd.                                                                                          | BAL-01-001-10                       

SEVERAL LIABILITY  NOTICE



The subscribing insurers' obligations under contracts of insurance to which they subscribe are
several and not joint and are limited solely to the extent of their individual subscriptions.  The
subscribing insurers are not responsible for the subscription of any co-subscribing insurer who
for any reason does not satisfy all or part of its obligations.

LSW 1001 (Insurance)